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International Forex Currency Risk Agreements (Part 1)
My Currency or Yours? Billions of Dollars, Euros, Yen, British Pounds and a multitude form of international currency whips around the world electronically every day, in a mind numbing blink of the eye. Every business person knows how easily a country's currency can fluctuate and wobble wildly due to a variety of reasons. Currency traders can raise the value of a developing country's currency to soaring heights one day, and bring it crashing down a week later. Many of these impacts
Conflict Negotiation: Psychological Dynamics
"It is easier to perceive error than to find the truth, for the former lies on the surface and is easily seen, while the latter lies in the depth, where few are willing to search for it." Johann Wolfgang Von Goethe Freud is alleged to have said, "A cigar is just a cigar". Yet at the negotiation table, differences in perception are too often distorted and magnified by the emotions and biased outcomes of one or more parties. Negotiation often needs to go through a conflict resolution
What Is Win-Win Negotiation?
Ever heard someone say that they 'gave away the farm'? Despite our best intentions, we sometimes negotiate too much value away to arrive at an agreement. Even when we go into our talks with high motivations and a grandiose exuberant spirit of cooperation, we have to be wary and dip our toes cautiously into the waters to make sure we aren't about to be devoured by a grinning and hungry shark. Today, many of us hear that win-win negotiations are all the rage. Academia has in more recent
How to Build Client Business Relationships
A top tier accounting firm was busy celebrating another year of fee income growth from one of its most important audit clients, a huge telecommunications business. The audit had run smoothly from the accountants’ view, despite some hiccups on delivery times and quality control, but overall, the advisers were happy with the depth of the relationship and their position to keep the plum business. So, when the client asked for an internal review of the account service to negotiate
21 Fun Stress Releases and How to Negotiate them
If you work in IT, and you're not experiencing stress on the job, consider yourself lucky - very lucky. In a 2006 stress survey, 97% of people working in IT reported that they experienced on the job stress - not just occasionally - but on a daily basis. Medical professionals who frequently experience trauma and death among patients, had the next highest stress. Stress leads to physical conditions including obesity, diabetes, ulcers, high blood pressure, high cholesterol, cardiovascular
Getting to Yes (book review)
'Getting to Yes - Negotiating Agreement Without Giving In' by Roger Fisher and William Ury was first published in 1981 and has become a classic read for any novice interested in learning negotiation skills. The reader should be aware however, while although still a very useful read, negotiation theory has not remained static over the years. Many negotiation writers have challenged some aspects of Fisher and Urys model and approach, as negotiation itself has evolved due to
Gender Negotiation Communication Style Differences: Women Little did we know that the communication differences we experienced as children on the playground would move from the classroom to the boardroom. As the face of business transforms with more women occupying key management positions, the requirement of reducing the gender communication gap is growing: miscommunication can cost money, opportunities, and jobs. Statistics tell the story. In the USA, women compose
8 Effective Negotiation Training Skills
We learn a lot from school and later skills training, but the truth is that unless we learn the most important lessons and can apply these skills outside of the classroom in the tough school of hard knocks we call 'real life', our results will be less than stellar. So which are the training course theories that will serve us best in the real world in our business negotiation challenges? Learning to negotiate effectively in negotiation does not come naturally to everyone. A few of
Internal Negotiations: Supporting the External Deal
Considerable effort is given to negotiation training and preparation by negotiators in their external negotiation interactions with clients, suppliers, partner and competitors. We have seen from our experience from training B2B salespeople, account managers, and regulatory team members, just how often their internal negotiations positively or negatively impact external negotiated agreements. All too frequently the internal negotiations are not given their just
Successfully Negotiating International Business Contractual Agreements
Western business people are often in too much of a hurry, and rush into making a deal. In international partnerships, we should spend more time thinking about how 'haste makes waste' rather than succumbing to the belief that 'time is money'. We've all seen psycho-thriller sand what happens when two strangers jump into bed before getting to know each other. Usually, it doesn't end very well, and after watching the carnage unfold on the screen, you swear you'll never do that again.
First Moves in Negotiating Global Agreements
Comparing local negotiations to global negotiations with a prospective foreign partner, is like trying to compare a game of chequers to a game of chess. Although both share similarities, with winning as the object, they are very different games. We have made your contacts, done our homework and spent time on negotiation preparation , and now we're ready to meet with our prospective foreign partner. Before we board the plane we have to carefully consider our opening moves, as
Corporate Negotiation Strategy Check-List (Part 2)
This article is a continuation from Pre-Negotiation Strategy Check List Part 1. These are the remainder of factors that corporate negotiators need to take into account preparing their negotiating strategy. 9. Your Place or Mine? In much the same way as sports teams enjoy a 'home advantage', negotiators playing away from home need to adjust their game plan and corporate negotiation strategies. There are 3 possibilities to consider when deciding where the talks will occur.
Pre-Negotiation Strategy Plan CheckList (Part 1)
To perform well, and perform well consistently, we must first learn to prepare. Ask any athlete who spends countless tedious hours preparing for a competition, or a lawyer about to step into a court room. At the end of our negotiation training courses we implore our soon to be graduates to book time into their busy calendars to prepare for their negotiations. While many colleagues, clients and suppliers will demand your time on a daily basis, very seldom will they remind you to
Price Tactics for Win-Lose Negotiations
There are some terms that need to be understood when you are involved in one-on-one negotiations. These are negotiations that pit two parties against each other, where the only interest is to wrest out the best value for themselves. this typically results in a win-lose or lose-lose outcome. When it comes to issues involving the price of a product or service, and there is little interest in forming a relationship, you need to know how to use the right tactics to gain the most for your
Multiparty Negotiations (part 2)
Now that we have considered all the challenges that can be posed by multiparty negotiations in Multi-Party Negotiations (part 1), let us now turn to examining some really effective solutions and tactics, to overcome some of these barriers. 3 Primary Considerations Non - Agreement Consequences: One of the first things a negotiator needs, is to understand what costs and consequences may occur, should the group fail to reach a negotiated agreement. In other words, what are our
Multi-Party Negotiations (part 1)
Many business partnerships that are forged in today's increasingly specialised business milieu, often involves 3 or more partners who are co-joining into complex agreements. This bubbling stew pot of positions, needs, and ambitions requires dexterous handling of the right ingredients. This ambitious blend makes the difference between savouring a rich and inviting texture of tastes, or storming out the door in disgust. It's a delicate balancing act where everyone is
When you have a group of managers sitting in a boardroom, you could be reminded of ancient Roman days, when two or more robed members, clustered in the shadows intent on forming a power block. Plotting to cause the downfall of another member or leader. Being a Caesar or a Senator of the ruling class in Roman times, often meant a very limited life span. It was not always the greatest gig it might have seemed on the surface. At times modern budget meetings don't seem all that dissimilar,
Negotiation Place: Does Turf Matter?
At the close of the day, I was escorted into his corner office. He was the managing partner of the law firm, and he sat behind a huge desk, in the power position. It was my final interview. If it went well, I hoped to receive a job offer. So began our negotiation. Many would state that I was already at a disadvantage. I was on his turf, in his office, at the mercy of his schedule, and he ruled the environment. I'm not so sure. While these factors can provide a leg up, I discovered some important
Business Contract Agreement Advice
Once upon a time, business people would seal a transaction with nothing more than a robust grasp of arms or a firm handshake. When the deal fell apart, they often settled the matter through a pain filled contest of weapons. Whoever was clubbed senseless or killed lost the argument. Years down the line, someone wiser, and probably less skilled with club or sword, decided there had to be a better way. And yes Virginia (in the U.S.of A ), is where lawyers originated, and aren't we all
Business Negotiation Preparation
All good negotiation plans are premised on good strategy and adapting our tactics to meet new challenges. Strategy is not based on guesswork but on intelligence, and even more importantly, negotiation preparation. It is one thing to prepare for a negotiation within our own country, but it is entirely different when we consider a business partnership that operates within an altogether different culture. If we don't prepare wisely beforehand, then we're likely to be in for
Contract Negotiation Training
Contract negotiation skills for buyers. Achieve big savings & create value.
"The case studies were well chosen and crafted to meet our specific work field's specialties. The large share of active role plays and case studies ensured high levels of active participation. Very flexible trainer, good time management, interesting topics. I liked the personalised analysis of the conflict modes and HBDI. Very important to know one's limitations/strengths
Advanced Negotiation Training
In-depth personalised expert video feedback. Negotiate complex role plays.
"Video review and role plays were great. Exciting, new and existing ways of growing business and develop better processes. Review of videos was invaluable. Reinforcing key information whilst building good ground. Stories to support brought the theory to life and gave confidence that the theory works. Practicing and the case studies were great. Getting
Sales Negotiation Training
Close more deals at higher Revenue & Margins. Tool-sets to keep control.
"Perfect training, recommendable for anybody with business negotiation needs. Opened up my mind to new ideas, and paying attention to detail. It was very useful to learn methods to put ideas in order and get tools that help to prepare in advance what your options and limits are. The training was very interesting. I would have liked to have practised negotiating